Hopeway Foundation

Analysis

Hopeway Foundation is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in February 2014, 12 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hopeway Foundation reported income of $20.6m and spending of $17.2m, spending 83% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $12.1m to $20.6m (+70%), an average of +14% a year. The sharpest change came in the year to December 2021, when income rose by 39%. Over the whole period it spent 91% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Hopeway Foundation sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within NC. Charities of a similar size with the same main cause include Emergycare Inc ($20.6m), Ebenezer Ridges ($20.6m) and Valley Health Foundation VHF ($20.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 33% and program service revenue 64% of the total. Compensation of current officers, directors and key employees was $2.3m (14% of expenses). Other salaries and wages came to $9.8m. At year end it held assets of $40.9m against liabilities of $12.7m, net assets of $28.3m. It reported 164 employees.